Embassy Developments Reports 338 Percent Pre-Sales Growth and RERA Approval for Juhu Project
Mumbai/Bengaluru, August 11, 2026: Embassy Developments Limited announced its financial results for the first quarter ended June 30, 2026, delivering pre-sales of approximately Rs 868 crore. This represents a growth of roughly 338 percent year-on-year compared to Rs 198 crore in the same period last year. Collections for the quarter rose 54 percent year-on-year to approximately Rs 496 crore, up from Rs 322 crore in the corresponding period. Demand across the company’s portfolio remained strong, with nearly 60 percent of the 4.3 million square feet launched in Bengaluru and Mumbai during FY26 already sold, Embassy Developments said in a press release.
In a major execution milestone, the company received Real Estate Regulatory Authority approval for Embassy Terazza, an ultra-luxury residential development in Juhu, Mumbai. Operating under the company’s Development Management model, the project features a gross development value in excess of Rs 3,000 crore. The low-density development spans over two acres with approximately 0.3 million square feet of RERA carpet area. Progress was also achieved across other regions, with One 09 Phase I in Gurugram receiving its Occupancy Certificate, five additional towers receiving certificates at Golfcity in Savroli, and upfront approvals granted for all 81 floors of Embassy Citadel in Mumbai.
Building on an FY26 performance that saw pre-sales of Rs 4,631 crore, the company maintains an estimated FY27 launch pipeline of nearly Rs 19,400 crore in gross development value. Embassy Developments remains on track to achieve its FY27 guidance of Rs 6,000 crore in pre-sales from owned developments and Rs 2,000 crore from development management projects. As of June 30, 2026, the company’s net institutional debt stood at approximately Rs 3,300 crore after adjusting for cash and cash equivalents of around Rs 1,200 crore.
To further strengthen the balance sheet, the board has approved a preferential allotment of convertible warrants amounting to approximately Rs 363 crore to Embassy Group at an exercise price of Rs 111.51 per share, subject to shareholder approval. The exercise price represents an 80 percent premium over the prevailing market price and regulatory floor price. Proceeds will be utilized to repay outstanding shareholder debt. The promoters have voluntarily committed to converting all warrants into equity within six months, significantly ahead of the permitted 18-month tenure.
Managing Director, Embassy Developments Limited, Aditya Virwani, said, “We have started FY27 with strong momentum, driven by healthy sales and collections from existing launches. We entered the year with a substantial portfolio comprising ~Rs 10,500 crore of ongoing residential inventory, Rs 400 crore of completed inventory, and a Rs 19,400 crore launch pipeline, providing a robust foundation for future growth. The operating environment remains favourable, with sustained demand across both premium and luxury segments, while customer preference continues to shift towards trusted developers with a proven track record. We believe Embassy is well positioned to benefit from these trends and are focused on disciplined execution and creating long-term value as we continue to scale our development platform and expand our market share.”
